Basically. I am in the UK, and have been working recently with people who do a lot of graduate recruiting. I can tell you that LSE ranks very highly in any recruiters mind. Among students in the UK, it is seen as very post grad heavy, and regarding as being not so much a social place, but a hard working one. There is a massive proportion of overseas students compared to most other UK Universities. However, nothing will detract from the fact that if you're aiming to get a good graduate position with good prospects in the city, LSE is second to only Oxbridge, and in many cases, not even them. That is of course for the social sciences.
That is just my view though